Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) Share Price Pass Below 50-Day Moving Average – Here’s Why

Direxion Daily Real Estate Bear 3X Shares (NYSEARCA:DRV) crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $23.12 and traded as low as $22.08. Direxion Daily Real Estate Bear 3X Shares shares last traded at $22.23, with a volume of 234,865 shares trading hands.

Direxion Daily Real Estate Bear 3X Shares Stock Down 5.0%

The firm has a 50 day moving average of $23.12 and a two-hundred day moving average of $24.60.

Hedge Funds Weigh In On Direxion Daily Real Estate Bear 3X Shares

Several hedge funds have recently bought and sold shares of the company. Virtu Financial LLC increased its stake in Direxion Daily Real Estate Bear 3X Shares by 17.6% in the 4th quarter. Virtu Financial LLC now owns 37,463 shares of the company’s stock valued at $994,000 after purchasing an additional 5,614 shares in the last quarter. Quadrature Capital Ltd purchased a new position in Direxion Daily Real Estate Bear 3X Shares in the 4th quarter valued at approximately $335,000. J. Safra Sarasin Holding AG purchased a new position in Direxion Daily Real Estate Bear 3X Shares in the 4th quarter valued at approximately $265,000. Finally, Group One Trading LLC increased its stake in Direxion Daily Real Estate Bear 3X Shares by 21.8% in the 3rd quarter. Group One Trading LLC now owns 4,462 shares of the company’s stock valued at $106,000 after purchasing an additional 800 shares in the last quarter.

About Direxion Daily Real Estate Bear 3X Shares

The Direxion Daily Real Estate Bear 3X Shares (DRV) is an exchange-traded fund that is based on the S&P Real Estate Select Sector index. The fund provides 3x leveraged inverse exposure to an index that captures large cap equities of the US real estate segment. DRV was launched on Jul 16, 2009 and is managed by Direxion.